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Problem 1: The board of directors of Metlock, Inc. declared a cash dividend of $2.35 per share on 43000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The effects of the journal entry to record the payment of the dividend on August 15, 2020, are to
Option 1: decrease stockholders' equity and decrease liabilities.
Option 2: decrease liabilities and decrease assets.
Option 3: increase stockholders' equity and increase liabilities.
Worst Buy Company has had a lot of complaints from customers of late, and its stock price is now only $4 per share. It is going to employ a one-for-six reverse stock split to increase the stock value. Assume Dean Smith owns 108 shares.a
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The other to record the use of $650 of office supplies. If the Trial Balance column totals are $15,470, what are the totals of the Adjusted Trial Balance column
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